Bitcoin Price Catalysts in 2019 and 2020- Reasons for Optimism in Halving
Bitcoin has been struggling to regain $4,000/coin, and is hovering around its resistance of $3,800. Investors are awaiting news of a bull market return, and there are plenty of catalysts over the horizon.
Bitcoin has been in a bear market for more than a year, but hope springs eternal. The biggest organic catalyst is the Bitcoin halving of 2020. Chinese miners who control the overall mining industry of Bitcoin utilizing ASIC processors are at the ready for this event.
Bitcoin's rewards will be halving again in 2020. The rewards per block will decrease by 50% in 15-months, and the price of Bitcoin has historically begun to rise 1-year ahead of the halving. Since the supply of Bitcoin will be decreased, the value of each coin will be higher. This is a fundamental catalyst for Bitcoin.
Bitcoin is a commodity whose price fluctuates like any other commodity. Supply and demand dictate the price, and miners are at the ready for the halving.
Are you buying Bitcoin? Mining equipment? What is your stand?